- Founder/Owner: Purvi Roy and Atul Gupta
- Business: Smart Luggage
- Ask: ₹45 Lakhs for 1.5% Equity
- Valuation/ Networth: ₹30 Crores
- Funding: ₹20 Lakhs for 1% + ₹15 Lakhs debt at 18% interest for 2 years
- Sharks: Anupam Mittal
- Episode: Season 3 Episode 25
Arista Vault Shark Tank India Pitch:
Arista Vault is an Indian startup which appeared on Shark Tank India season 3 Episode 25. They specialize in Smart luggage bags. Their line includes a follow-me suitcase which does exactly what it sounds like, Smart wallets which connect to the phone through the app and find your wallet when it gets lost in just one tap. They also have fingerprint lock bags and other accessories. They have sold their products to over 35,000 customers. The founders’ vision is to let people experience travel hassle-free and to fulfill this, They sought an investment of ₹45 Lakhs for 1.5% of the company valuing the business at ₹30 Crores.
Arista Vault Financials during Shark Tank India:
In 2017, The founders had met to discuss the Idea. They registered Arista Valult in 2018. Ministry of Electronics and Information Technology have also supported the Idea. Arista Vault raised their first round in 2022 at an ₹11 Crore valuation where they raised ₹25 Lakhs. In the same year, They also raised another ₹65 lakhs at ₹12 Crores valuation. In early 2023, They have just closed another funding round where they raised ₹1.4 Crores at ₹20 Crore valuation.
Arista Vault has product pricing starting at ₹1,500 and it goes up to ₹50,000. A basic wallet with tracking starts at ₹1500, A classic leather wallet with all smart features costs ₹5,500. A finger lock bag is priced at ₹9,500, Travel bags retail for ₹3,000 and A fully loaded follow-me luggage costs ₹50,000. However, The founders added that the basic follow-me luggage starts at ₹15,000. Arista Vault manufactures its products in Kolkata. Their smart luggage is a new product for which they are currently taking pre-orders.
Arista Vault Revenue during Shark Tank India:
Arista Vault made revenue of ₹75 Lakhs in FY20-21. Another ₹1.57 Crores in FY21-22. They got another 129% increase in sales for FY22-23 to ₹3.6 Crores in Revenue. The company has already generated ₹4 Crores of revenue in FY23-24 till December 2023 and has booked another ₹5 Crores worth of orders. They are projecting to close this year at ₹9 Crores.
Arista Vault products are available through their own website and through marketplaces. The founders added that this year, they have also seen an increase in Corporate gifting of their products which came to about 40% of the total revenue.
For Unit economics, About 40% of the net revenue goes to Cost of Goods Sold, 25% goes to marketing, 15% goes to salaries and R&D giving them 20% profit before tax. In November 2023, The company made ₹65 lakhs in revenue and profited about ₹12 lakhs before taxes. Arista Vault founders added that they are focusing on Branding for the growth purposes and also taking export orders from USA and Dubai. One of the vendors from Dubai has committed the sales of around ₹10 crores in the first year.
Arista Vault Shark Tank India Negotiations & Funding:
Aman commented that the company has a first mover advantage but he is not sure if they would be able to sustain that therefore he goes out of the deal. Vineeta goes out because she felt like the brand strategy is confusing and it’s a tech brand without a tech co-founder. Varun Dua also goes out due to lack of defensibility of the tech part of this business. Radhika felt like this is too early to invest and the company needs to focus on their value proposition therefore she goes out as well.
Anupam commented that this is a solution looking for a problem but he said even though everything else is telling him not to invest he liked their numbers therefore he wanted to make an offer. He offered ₹15 Lakhs for 1% of the company and the rest as debt at 18% interest for 2 years. The founders countered that with ₹20 Lakhs for 1% and the rest as debt. He accepted that with a condition that the company would finalize their Dubai deal worth ₹10 Crores. The founders accepted that offer and shook hands on ₹20 Crore valuation.
Who are the founders of Arista Vault?
Purvi Roy and Atul Gupta founded Arista Vault. They met at a fashion show in 2017. Atul was a top student in school and worked as a ticket collector in the past.
How is Arista Vault doing after Shark Tank India?
Our research on Arista Vault revealed that while they did get a deal on Shark Tank, Whether that was finalized after the show is still unclear. This could be due to them still being in the due diligence phase and we will update this article as soon as there is an update on this. In the meantime, You can check out their products by clicking the Amazon Button below!
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Source: Instagram @aristavault
Here are other companies from Season 3 Episode 25.